Thursday, August 11 2005 17:02 Hrs (IST) - World Time -

Mumbai: Reserve Bank of India will pay dividend of Rs 5,400 crore to the Centre for the year ended June 30, 2005.

The central board of directors today (Aug 11, 2005) approved the surplus profit to the Government of India amounting to Rs 5,400 crore, RBI said in a statement in Mumbai.

Reserve Bank of India's financial year begins on July One and closes on June 30 of next year.

The meeting chaired by the governor Y V Reddy reviewed key economic, monetary and financial developments, it said.

The central board members Y H Malegam, Mihir Rakshit, D S Brar, Ratan Tata, Amrita Patel, K P Singh, K Madhava Rao, V S Vyas, H P Ranina, N R Narayana Murthy, Suresh Krishna, Ashok Ganguly and the Government nominee Ashok K Jha attended the meeting, it said.

The board meets seven times a year. Apart from holding four meetings in four metros including one in New Delhi held after union budget, the rest are held at different state capital's by rotation, it added.